Taxation in Hong Kong
The taxation system in Hong Kong is simple and transparent with a low
personal and corporate tax rate. Corporate Taxation in Hong Kong is
based on a territorial system, in that if the transactions are deemed
‘onshore’ in nature they are subject to a taxation of 16.5%, where as if
the transactions are considered ‘offshore’ tax exemption is possible.
Personal income tax for Hong Kong residents is 15%.
Banking in Hong Kong
Hong Kong has one of the highest concentrations of banking institutions
in the world with 71 of the largest 100 banks registered in the city.
Transaction processing is quick and efficient and Hong Kong has recently
become one of the first cities outside of the PRC to be permitted to
perform RMB clearing. The workforce in Hong Kong is highly skilled, most
of which are trilingual speakers with exposure to international
markets. We can assist you to open an account here with an
Legal System in Hong Kong
Hong Kong’s legal system is straightforward, transparent and based on
British common law. Hong Kong’s independent judiciary has had a long
reputation for its fairness and was recently awarded the best judicial
system in Asia. The Hong Kong legal system has a pivotal role when doing
business in the PRC as arbitration proceeding conducted in Hong Kong
with a PRC company is enforceable on either side of the border.